A Man Noticed a Strange Shape on the Ground on Google Earth. It Turned Out to Be the Mark of an Undetected TornadoThe U.S. retirement system is a powerhouse, offering unparalleled opportunities for individuals to take control of their financial destinies through defined contribution plans like 401(k)s and IRAs. These aren’t just mere savings tools; they are dynamic pathways to financial independence, loaded with tax benefits, employer contributions and the incredible potential of compounding growth. Recent innovations like auto-enrollment and target-date funds have boosted participation rates, enabling millions of Americans to build formidable retirement savings. But let’s be clear: The responsibility for effective retirement planning lies squarely on individuals — and that is no easy task! To navigate the complexities of retirement, it’s essential to equip people with strategies that can lead to financial security and help everyone benefit from our retirement system. The strength of defined contribution plans The U.S. retirement system has its imperfections, but the advantages of defined contribution plans, like 401(k)s and IRAs , cannot be overstated. Many of these plans offer tax benefits, employer matching and compounding growth, creating a sustainable path for millions of Americans to build their financial future. Subscribe to Kiplinger’s Personal Finance Be a smarter, better informed investor. Sign up for Kiplinger’s Free E-Newsletters Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail. Profit and prosper with the best of expert advice - straight to your e-mail. Over the years, advancements like auto-enrollment and target-date funds have helped improve participation and outcomes. A 2023 survey by the Plan Sponsor Council of America (PSCA) found that automatic enrollment can boost participation rates by at least 15 percentage points , with the impact varying based on the size of the plan. Vanguard’s How America Saves report highlighted the success of auto-enrollment, showing that plans with automatic enrollment had a 93% participation rate, compared with 70% for plans with voluntary enrollment. Having more Americans contributing to their financial futures is the best way forward. Portfolio strategies have also evolved, becoming more age-appropriate and balanced. Research from MIT Sloan shows that the average American now invests significantly more in the stock market than in past decades, a trend driven by the rising popularity of target-date funds. Retirement savings have grown tremendously and represent 32% of all household financial holdings in the United States, reaching a total of $40 trillion in June 2024, according to the Investment Company Institute (ICI) . Earlier this year, the U.S. Bureau of Labor Statistics reported that 73% of civilian workers had access to retirement benefits, with 56% participating. The percentage of eligible workers who opted into these plans was 77%. Employer contributions have been a significant driver. Matching programs offer a crucial boost to savings, providing even more value to defined contribution plans because of the compounding effect, especially when made early. For example, a $1,000 contribution at age 30 grows significantly more than the same contribution at age 50. Contributions also: Increase participation. Matching contributions encourage higher enrollment and participation in retirement plans. Improve diversification. Extra contributions allow employees to better balance and diversify their portfolios , managing risk for improved outcomes. Close savings gaps. Employer contributions help reduce retirement savings gaps, particularly for lower-income workers who might otherwise struggle to save. Empowering individual responsibility The most effective retirement strategies are built on personal responsibility. Being engaged in your retirement planning leads to better outcomes. Something as simple as being sure to roll over your old 401(k) account when you change jobs can be make-or-break. It seems like common sense but, unfortunately, it’s not. A Harvard Business Review article from March 2023 states, "41.4% of employees cashed out 401(k) savings on the way out the door." Of those people, nearly 85% emptied their accounts. This is not a forward-thinking strategy, and we need to help people understand how to plan better. As a retirement savings professional, I cannot understate the importance of empowering individual responsibility. I have five simple guidelines to help everyone enjoy a happy retirement : 1. Start saving early The sooner you save, the more your money can grow through compounding returns. No matter what the amount is, save it. At my company, PensionBee , you can easily track your retirement account. 2. Maximize employer and government contributions Take full advantage of employer 401(k) matches and tax breaks on traditional IRAs and 401(k)s. This way, your savings grow faster with less out of pocket. 3. Grow your savings through good investments Size matters. Access global assets. There are many solutions that offer customers exposure to large global ETFs . Diversify. Spread investments across multiple stocks and asset classes globally to minimize the risk of negative events in one sector or region. Keep it simple. If you can’t dedicate time to managing your portfolio, consider set-and-forget investments that grow without constant oversight, such as target-date funds. Consider investing with your values. If you care about climate or ethical investing, check what options your provider offers. There are climate-focused investment options that don’t compromise returns. 4. Watch out for hidden fees Do you know what you are paying in fees on your retirement accounts right now? Very few of us do. It’s important to keep your fees low — ideally under 1%. All-inclusive fees are best so you know exactly what you’re paying without any surprises. 5. Take out only what you need Withdrawing too much reduces long-term growth. Too many people withdraw their retirement accounts to move their cash into bank accounts. But banks offer lower, taxable returns compared to retirement investments. Choose a provider with flexible withdrawals to access funds when necessary while keeping the rest invested for better growth and tax advantages. A call to confidence As we look toward the future, our retirement plans must evolve to serve everyone — from Gen Z workers just starting their careers to retirees enjoying their golden years. Flexibility is crucial for younger generations, while stability will remain key for those nearing retirement . Public perception is a critical measure of success. According to a PensionBee Retirement Confidence study, only 40% of Americans under 50 feel positive about their retirement outlook. The U.S. retirement system has the strength and flexibility to meet the challenges ahead, and with the right approach, we can ensure it works for everyone. The future is bright — let’s keep pushing forward. Related Content Seven Habits for a Happy Retirement How to Have a Happy Retirement Avoid Retirement Regrets: Five Facts to Learn Now, Not Later Key to a Happy Retirement? Finding Yourself How to Stop Boredom From Ruining Your Happy Retirement This article was written by and presents the views of our contributing adviser, not the Kiplinger editorial staff. You can check adviser records with the SEC or with FINRA .Pauline Hanson runs past Lidia Thorpe in the Senate chamber (Image: AAP/Mick Tsikas) THORPE SUSPENDED Lidia Thorpe’s suspension from Parliament got significant coverage overnight, with AAP reporting the independent senator received the punishment after she threw pieces of paper at One Nation’s Pauline Hanson as a row over racism erupted. On Wednesday Hanson had attempted to refer Senator Fatima Payman to a parliamentary committee over her dual Afghan citizenship, questioning her eligibility to sit in the upper house. Payman said in response to Hanson’s actions yesterday morning: “You’re not just vindictive, mean, nasty, you bring disgrace to the human race. No dignity whatsoever as a senator,” the ABC reports. Thorpe, in supporting Payman, shouted “convicted racist” at Hanson and threw torn-up documents at her, AAP said. Labor Senate leader Penny Wong later moved a motion to suspend Thorpe due to “the gravity of the conduct”. The government, Coalition, Hanson, David Pocock and Ralph Babet voted in favour of the motion while the Greens voted against it. Coalition Senate leader Simon Birmingham called the motion a “line in the sand” and accused the Greens of a “shameful double standard”. While that was going on, WA Premier Roger Cook was saying in a press conference he was confident the government’s “nature positive” legislation would not be progressed in its current form. Turns out he wasn’t wrong, with Guardian Australia among others flagging how Prime Minister Anthony Albanese stepped in to kill it at the 11th hour even though negotiations between Environment Minister Tanya Plibersek and Greens’ environment spokesperson Sarah Hanson-Young “were progressing this week towards a compromise”. Elsewhere, the site flags Jacqui Lambie and Tammy Tyrrell are involved in an administrative spat over the typography and map of Tasmania they both use in their respective logos. Finally, the AAP highlights that up to half of the country’s adult population is “lining up for a share of $100 million in the sixth largest lottery jackpot in the nation”. The draw closes at 7.30pm AEST. FINAL MAD SCRAMBLE Another calm and sensible day awaits us in Canberra with the government attempting to ram almost 40 bills through the Senate in the last scheduled sitting day of the year. Guardian Australian reports the Albanese government hopes to pass key legislation on migration, electoral reform, privacy, the social media ban for under 16s, and to implement a new Reserve Bank of Australia (RBA) structure. The site reckons at least 37 bills will be attempted to be pushed through the Senate on Thursday. Yesterday’s scenes in the chamber, which saw independent senator Lidia Thorpe suspended for the remainder of the parliamentary sitting week, could have an impact on the government’s plans. Guardian Australia flags Thorpe’s suspension leaves the government “short of the numbers required for the guillotine motion which would truncate the usual debate time and bring on rapid-fire votes”. Apparently independent Senator David Pocock has offered his support “but at a high price”, the site says and reports crossbenchers are considering voting as a bloc to oppose all of the government’s legislative wishlist in protest at the frantic end to the sitting week. The ABC had led overnight on the suggestion the government’s election finance reforms are potentially in trouble after a breakdown in negotiations with the Coalition at the last minute. The broadcaster said sources claim the opposition has concerns over the proposal to limit election donations and spending. The apparent concerns are regarded by some as a tactic to drag talks beyond the end of the week and therefore potentially the end of the parliamentary term, if Prime Minister Anthony Albanese calls the election for early next year. If unable to come to an agreement with the opposition, the government will try to pass parts of the legislation with the help of the crossbench, the ABC adds. With that said, the Nine papers reckon that the reforms actually look set to pass the Senate “after Opposition Leader Peter Dutton held informal talks with Labor powerbroker Don Farrell to negotiate the deal”. The papers add Climate 200 founder Simon Holmes à Court has held last-minute talks with Farrell to warn against the plans, while mining billionaire Clive Palmer raced to Canberra to try and intervene. In another example of mixed messaging, the ABC reckons the government is still negotiating over its earnings tax on super funds with balances over $3 million. At the same time, Guardian Australia has led overnight with the reform being “all but abandoned” while (as flagged in Tuesday’s Worm ) the AFR said at the weekend it looks unlikely to pass before the next election, even if this Parliament does return on February. So who knows, everything is changing all the time. For example, the AFR flags the plans to reform the Reserve Bank of Australia’s board were declared “effectively dead” back in September but are now back in contention after the government reopened discussions with the Greens yesterday as part of the plans to push through as much legislation as possible today using the guillotine motion. Brace for endless twists and turns with plenty of blatant tactics playing out in Parliament House over the next 24 hours. ON A LIGHTER NOTE... A cat that got lost in Wyoming’s Yellowstone National Park has made it back to its home in California after an epic 900-mile journey. The Associated Press reports Benny and Susanne Anguiano took their two pet cats to Yellowstone’s Fishing Bridge RV Park on June 4. Not long after arriving one of the felines, Rayne Beau, got startled and ran into the trees. After a fruitless four-day search Benny and Susanne had to return home to Salinas, California, without him. A whole two months later in August, the couple were informed by a microchip that Rayne Beau was at the Society for the Prevention of Cruelty to Animals (SPCA) in Roseville, California, almost 900 miles from Yellowstone, the newswire said. A woman had spotted the cat wandering the streets of the northern California city and taken him to the local SPCA after feeding and watering him. The Anguianos then went and picked him up. The couple say they have no idea how Rayne Beau travelled the 900 miles and are hoping people will come forward and provide details if they saw him on his odyssey. Say What? LinkedIn simply does not have content interesting and appealing to minors. LinkedIn The career networking site told the Senate inquiry it is too boring to be included in the government’s plans to ban under-16s from certain social media. CRIKEY RECAP Marles the mediocre floats free of media scrutiny BERNARD KEANE Deputy Prime Minister Richard Marles (Image: AAP/Mick Tsikas) Two scandals continue to bubble away that reflect poorly on Richard Marles , the deputy prime minister and, as head of the Defence portfolio, both the biggest spending minister and most important manufacturing figure in the government. Neither, however, looks set to damage him. Marles has led a charmed life over the past two parliamentary terms. He is only Labor’s deputy leader because, due to Anthony Albanese’s ascendancy, the deputy leader couldn’t be from the Left faction or from NSW. He has sailed through numerous problems in his portfolio that would have bogged down other ministers. Renewables are exceeding expectations — but so are emissions. Why? KETAN JOSHI It is bad enough that 2024 was a record high for global greenhouse gas emissions. It is extra bad because the number we’ve ended up at is higher than all of the old projections of what this year would end up at. That is to say: we are overestimating our ability to stop using fossil fuels. There have been incredible advances in renewables and climate policies, but also, “fossil fuel subsidies remain at an all-time high and funding for fossil fuel-prolonging projects quadrupled between 2021 and 2022”. Why? What is justifying this weird refusal to back away from the fossil fuel economy? It’s many things, but a big one is the false promise of a machine that cleans up fossil fuels, rather than us needing to find a replacement for them. Back in 2022, I contributed an essay to Greta Thunberg’s Climate Book . It was about the weaponised false promise of carbon capture and storage (CCS). I wanted to talk about it not as a technological phenomenon but a rhetorical one. A tactically deployed promise that is never meant to come true . Failure as a feature, not a bug. The secret to a million-dollar newsletter in a feeble news market? Admitting when you mess up CHARLIE LEWIS The subject line of the November 25 edition of US politics newsletter Tangle , which came out a few hours before I spoke to founder Isaac Saul , was “A trans bathroom controversy in Congress”. But that was not the subject of the lead item. The first thing a subscriber would read that day were two corrections to the publication’s recent coverage, featuring not just the facts that had been printed erroneously, but a candid explanation as to how those errors came about. The correction ends by noting that these represent the “120th and 121st corrections in Tangle’s 277-week history”. This is as good an introduction to Tangle — which calls itself “an independent, nonpartisan, subscriber-supported politics newsletter” — as one is likely to get. “It all comes to the question, ‘how do we improve trust in media?’” Saul told Crikey . “We show our work. If we screw something up, putting it as a footnote and ghost-editing the piece is not a way to build trust.” READ ALL ABOUT IT As Israel-Hezbollah ceasefire takes hold, Biden heralds new push for truce with Hamas in Gaza (CBS News) Two presidents, two policies, one superpower: America in transition ( The New York Times ) ($) China’s CO2 emissions have peaked or will in 2025, say 44% of experts in survey ( The Guardian ) Laos detains foreign hostel staff over backpacker methanol poisonings as families and travellers demand answers (CNN) The rest is not even close: Inside Gary Lineker’s goalhanger revolution ( Esquire ) Drake takes legal action over song’s ‘sex offender’ claim (BBC) THE COMMENTARIAT Why I’ve changed my mind about the social media bill — Andrew Wilkie ( Guardian Australia ): There is also the fact that, despite all the histrionics about protecting children from harm, the government has dropped plans to ban gambling advertising, shelved their Environmental Protection Agency, kicked environmental law reform into the long grass and continues to cheer on fossil fuels. Surely our kids deserve protection from predatory gambling companies and the climate emergency too. If we truly want to get serious about protecting our kids online we could better regulate social media companies and their algorithms. We could put the onus on them to implement safety by design. And we could steer kids towards more respectful behaviour. This proposed ban is a blunt instrument being rushed through before an election. It ignores the nuances and restricts young people rather than focusing on those responsible for the harm. There are any number of things the government could be doing if they were serious about preventing harm, but I reckon in this case they are just playing pre-election games and the opposition is more than happy to go along for the ride. Karen Webb’s response to Clare Nowland verdict shows some lessons have been learned — Lia Harris (ABC): “Hindsight is a wonderful thing.” That was the response from NSW Police Commissioner Karen Webb when asked if she wished she had handled things differently after 95-year-old Clare Nowland was tasered by a police officer last year. And based on the speed with which she fronted the media on Wednesday afternoon, less than four hours after senior constable Kristian White was convicted of Mrs Nowland’s manslaughter, it certainly seems some lessons have been learned. It was a pivotal moment in a case that has plagued the last 18 months of commissioner Webb’s leadership.
President-elect Donald Trump said on Friday in a post on Truth Social, his social media platform, that the Republican administration under him "use its best efforts" to do away with Daylight Saving Time. "The Republican Party will use its best efforts to eliminate Daylight Saving Time, which has a small but strong constituency, but shouldn't!" Trump wrote. "Daylight Saving Time is inconvenient, and very costly to our Nation." Daylight Saving Time (DST) is the practice of moving the clocks forward by one hour during the warmer months to extend evening daylight. It typically starts in the spring and ends in the fall. In most countries that observe DST, it starts on the second Sunday in March and ends on the first Sunday in November. There have been several political efforts to eliminate Daylight Saving Time (DST) in recent years. Along with the President-elect, his "first buddy" Elon Musk has also voiced support for abolishing DST. Before Trump's recent announcement, Senators Marco Rubio and Rick Scott introduced the Sunshine Protection bill in 2018 to make DST permanent nationwide. In 2019, Washington passed a bill to adopt permanent DST, however, it is pending federal approval. Similarly, in 2018, Florida passed the "Sunshine Protection Act" to keep DST year-round. In 2018, California voters passed Proposition 7 to potentially adopt permanent DST. But federal approval in both these cases is still pending. Get Latest News Live on Times Now along with Breaking News and Top Headlines from US News, World and around the world.
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The gunman who stalked and killed UnitedHealthcare CEO Brian Thompson fled New York City by bus, police officials told CNN on Friday. Video of the suspected shooter leaving the scene of the shooting Wednesday showed him riding a bicycle to Central Park and later taking a taxi cab to a bus depot, Chief of Detectives Joseph Kenny told CNN. Here's the latest: The gunman who killed the CEO of the largest U.S. health insurer may have fled the city on a bus, New York City police officials told CNN on Friday. Video of the suspected shooter leaving the scene of the shooting Wednesday showed him riding a bicycle to Central Park and later taking a taxi cab to a bus depot, Chief of Detectives Joseph Kenny told CNN. “We have reason to believe that the person in question has left New York City,” Commissioner Jessica Tisch said. The gunman who killed the CEO of the largest U.S. health insurer made sure to wear a mask during the shooting yet left a trail of evidence in view of the nation’s biggest city and its network of security cameras that have aided authorities piecing together his movements and his identity. A law enforcement official said Friday that new surveillance footage shows the suspect riding the subway and visiting establishments in Manhattan and provided more clues about his actions in the days before he ambushed UnitedHealthcare CEO Brian Thompson . The gunman’s whereabouts and identity remain unknown Friday, as did the reason for Wednesday’s killing. New York City police say evidence firmly points to it being a targeted attack . ▶ Read more about the search for the gunman In many companies, investor meetings like the one UnitedHealthcare CEO Brian Thompson was walking to when he was fatally shot are viewed as very risky because details on the location and who will be speaking are highly publicized. “It gives people an opportunity to arrive well in advance and take a look at the room, take a look at how people would probably come and go out of a location,” said Dave Komendat, president of DSKomendat Risk Management Services, which is based in the greater Seattle area. Some firms respond by beefing up security. For example, tech companies routinely require everyone attending a major event, such as Apple’s annual unveiling of the next iPhone or a shareholder meeting, to go through airport-style security checkpoints before entering. Others forgo in-person meetings with shareholders. ▶ Read more about how companies protect their leaders Those images include New York’s subway system, a law enforcement official said. In establishments where the person was captured on camera, he always appeared to pay with cash, the official said. The official wasn’t authorized to discuss details of the ongoing investigation and spoke to The Associated Press on condition of anonymity. — Mike Balsamo Medica, a Minnesota-based nonprofit health care firm that serves 1.5 million customers in 12 states, said it’s temporarily closing all six locations. The firm has offices in Minnesota, Wisconsin, Nebraska and North Dakota, and employs about 3,000 people. Employees will work from home, Medica spokesman Greg Bury said in an email Friday. “The safety of Medica employees is our top priority and we have increased security both for all of our employees,” a statement from Medica said. “Although we have received no specific threats related to our campuses, our office buildings will be temporarily closed out of an abundance of caution.” Bury also said biographical information on the company’s executives was taken down from its website as a precaution. The insurer cited the fatal shooting of UnitedHealthcare CEO Brian Thompson in its announcement about the Dec. 12 event. “All of us at Centene are deeply saddened by Brian Thompson’s death and want to express our support for all of those affected. Health insurance is a big industry and a small community; many members of the CenTeam crossed paths with Brian during their careers,” Centene CEO Sarah M. London said in a news release. “He was a person with a deep sense of empathy and clear passion for improving access to care. Our hearts are with his family and his colleagues during this difficult time.” Centene Corp. has grown in recent years to become the largest insurer in Medicaid, the state- and federally funded program that covers care for people with low incomes. Insurers manage Medicaid coverage for states, and Centene has more than 13 million people enrolled in that coverage. The insurance company also said it’s focused on ensuring the safety of employees and assisting investigators. “While our hearts are broken, we have been touched by the huge outpouring of kindness and support in the hours since this horrific crime took place,” the company said. But he said Friday that he’s confident police will arrest the shooter. “We are on the right road to apprehend him and bring him to justice,” Adams said on TV station WPIX. Later, it removed their names and biographies entirely. Police and federal agents have been collecting information from Greyhound in an attempt to identify the suspect and are working to determine whether he purchased the ticket to New York in late November, a law enforcement official said. Investigators were also trying to obtain additional information from a cellphone recovered from a pedestrian plaza through which the shooter fled. The fatal shooting of Brian Thompson while walking alone on a New York City sidewalk has put a spotlight on the widely varied approaches companies take to protect their leaders against threats. Experts say today’s political, economic and technological climate is only going to make the job of evaluating threats against executives and taking action to protect them even more difficult, experts say. Some organizations have a protective intelligence group that uses digital tools such as machine learning or artificial intelligence to comb through online comments to detect threats not only on social media platforms such as X but also on the dark web, says Komendat. They look for what’s being said about the company, its employees and its leadership to uncover risks. ▶ Read more about the steps companies take to protect their leadership Police said Thursday they found a water bottle and protein bar wrapper from a trash can near the scene of the ambush and think the suspect bought them from a Starbucks minutes before the shooting. The items were being tested by the city’s medical examiner.Arguments over whether Luigi Mangione is a 'hero' offer glimpse into unusual American momentAlexis Mac Allister and substitute Cody Gakpo got the goals as Liverpool beat Champions League holders Real Madrid 2-0 at Anfield to make it five wins from as many games in the league phase for Arne Slot’s men. The Reds took the lead when Mac Allister played a one-two with Conor Bradley and slotted past Thibaut Courtois seven minutes into the second half. Real had the chance to equalise with a penalty just past the hour, but Kylian Mbappe saw his strike saved by Caoimhin Kelleher. There was then an unsuccessful spot-kick from the hosts as Mohamed Salah missed from 12 yards, before Gakpo popped up with a 76th-minute header from Andy Robertson’s cross as the Merseysiders recorded a first win over Real in 15 years and gained some revenge for their defeats in the 2018 and 2022 finals. While Liverpool top the table, Carlo Ancelotti’s Real are down in 24th place – the final play-offs berth – with just six points from their five matches. Aston Villa are outside the top eight on goal difference after a 0-0 draw with Juventus in which Morgan Rogers had a stoppage-time finish for the hosts ruled out for a foul, with Villa goalkeeper Emiliano Martinez having earlier made a fantastic save to deny Francisco Conceicao. Celtic, lying 20th, drew 1-1 at home with Club Brugge thanks to a curling Daizen Maeda strike that cancelled out a remarkable own goal by Cameron Carter-Vickers, who passed back without looking to send the ball into the net. Borussia Dortmund moved into the top eight with 3-0 win at Dinamo Zagreb, where Jamie Gittens, Ramy Bensebaini and Serhou Guirassy got on the scoresheet. Monaco dropped to eighth after suffering their first loss of the league phase, 3-2 at home to Benfica. Despite having Wilfried Singo sent off just prior to the hour mark, the French side took the lead for a second time via Soungoutou Magassa in the 67th minute, only for late goals from Arthur Cabral and Zeki Amdouni to give Benfica all three points. Lille, in 12th, have the same amount of points as Monaco and Villa thanks to a 2-1 win at Bologna, with Ngal’Ayel Mukau notching a brace. PSV Eindhoven, now 18th, produced a dramatic late turnaround to beat 10-man Shakhtar Donetsk 3-2 at home. The visitors led 2-0 through Danylo Sikan and Oleksandr Zubkov before having Pedrinho sent off in the 69th minute, and PSV then hit back with three goals in the closing stages, Malik Tilman scoring in the 87th and 90th and Ricardo Pepi then notching the winner in the fifth minute of stoppage time. Red Star Belgrade registered their first win of the league phase by thrashing Stuttgart 5-1, as did Sturm Graz, beating Girona 1-0.Task force supports phone bans in schools